Navistar International Corp. today (Oct. 24) announced the commencement of a public offering of approximately 10 million shares of its common stock. In addition, the company will grant the underwriters a 30-day option to purchase up to approximately 1.5 million shares of common stock.
According to a news release, the company intends to use all net proceeds from the offering for general corporate purposes. J.P. Morgan Securities LLC, Goldman, Sachs & Co., BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering.
The securities described above are being offered pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC) on Oct. 24. A preliminary prospectus supplement and the accompanying prospectus relating to these securities has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov.